Below are approximate amounts related to balance sheet information reported by five companies in previous years? 1.

Question:

Below are approximate amounts related to balance sheet information reported by five companies in previous years?

1. ExxonMobil reports total assets of $228 billion and total liabilities of $107 billion. What is the amount of stockholders’ equity?

2. Citigroup reports total liabilities of $1,500 billion and stockholders’ equity of $110 billion. What is the amount of total assets?

3. Amazon.com reports total assets of $4.7 billion and total stockholders’ equity of $0.3 billion. What is the amount of total liabilities?

4. Nike reports an increase in assets of $1.2 billion and an increase in liabilities of $0.3 billion. What is the amount of the change in stockholders’ equity?

5. Kellogg reports a decrease in liabilities of $0.34 billion and an increase in stockholders’ equity of $0.02 billion. What is the amount of the change in total assets?

Required:

Calculate the answer to each.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...